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Special tax break for major donors to charities—only through December 31"For outright gifts of cash made between August 28 2005 and December 312005 to charities, individuals may take a federal income tax deduction of up to 100 percent of their adjusted gros income (AGI). upon January 1, 2006, the deduction limit will turn back back to 50 percent of AGI." [1] This applies for donations to charities--but not to donor-advised stocks or private foundations. [1] Comment Apparently this provision (of the Katrina pinch Tax Relief Act of 2005) alone helps those who can afford to donate more than half of their income to charities (not limited to hurricane relief). It appears to give permission to people with plenty of assets to live upon wipe out their income tax entirely for 2005 through giving their whole taxable income to the charities of their choice. Check with your accountant for an authoritative opinion. Fundraisers and donors should know about this possibility before it expires upon December 31. Spread the word. Reference (1) Harvard University, http://post.harvard.edu/pgo/ COPYRIGHT 2005 John s James TOKYO, Dec. 22 Kyodo (EDS: COMBINING WITH PREVIOUS STORY HEADLINED, ''BANDAI VISUAL JOINS BLU-RAY CAMP'') Toshiba Corp. and its partners formed a cluster Wednesday to pr... At least that's what tribe say. But warm-weather sniffles draw near from similar viruses and are no more stiff than their wintry cousins, says Julie L Wei, MD an ear, nose, and throat specia... Mexican Beasts and Living Santos, by means of Guillermo Gomez-Pena and Roberto Sifuentes. powerHouse Books/144 pp/$1800 (hb) fane of Confessions is a documentation of the eponymous collaborative perf... The brilliant color and vivid lines of the work of Avi Ben-Simhon summon forth a feeling of joy and happiness. His work, the culmination of artistic superiority and a background in graphic printing, is e... Name Cheats All Skill: After you have beaten the game with Leon start a of recent origin game without overwriting the original single and enter the name "@llskill" to earn a maxed-out Leon. ... AS THE LARGEST PUBLISHER of valuation-related textbook in the world and provider of single of the most extensive education networks available, the Appraisal Institute continues to proffer its... INTRODUCTION gymnasiums are identified as a lock opener setting for public health strategies to interrupt and decrease the presence of overweight and obesity. (1) greatest in quantity children spend a large... of recent origin YORK--On Nov. 9 at Swann Galleries' greatest in quantity lucrative Works of Art upon Paper auction to date, of advanced age master, 19th-century, and modern prints brought more than $24 million, with many of the prints s... DORVAL TRADING Co LTD redesigns Droste Seasons Greetings Gift make revolves of chocolate pastilles in octagon-shaped boxe with holiday graphics. The 60-ct 105-ounce turns and pack in 24-ct displ... |
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